Philmay foreclosed properties listing updated as of November 15, 2012

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Philmay and Maybank foreclosed properties as of November 15, 2012

As promised in my post about their repossessed cars, here is the latest updated listing of foreclosed properties from Philmay Property Inc.  or PPI. This includes properties from Metro Manila, Luzon, Visayas, and Mindanao areas, updated as of November 15, 2012.

This is courtesy of Mr. Leslie V. Sevilla – Sales and Marketing Officer of PPI for Visayas and Bulacan areas (contact details can be found below).

The foreclosed properties included in this listing are all for negotiated sale. In other words, all prices are negotiable, subject to management approval.

Payment terms

Aside from cash purchases, these properties can be purchased with the following payment terms:

  • 20% minimum downpayment is required.
  • 80% balance shall be payable up to 10 years. Longer payment terms (for example, 15 years) is possible, subject to approval.

Download the complete list of Philmay foreclosed properties

You may download the complete list of Philmay foreclosed properties as of November 15, 2012 through the link below.

Related forms

REMINDERS (Please read!):

  1. Prices are negotiable
  2. Prices are subject to change without prior notice
  3. Philmay reserves the right to amend the terms, conditions, and withdraw/replace anyand all properties anytime for whatever reason Management may deem appropriate
  4. All sales shall be on an “as-is, where-is” basis, no waranties and “no recourse” basis. Status and condition of the properties are not comprehensive or complete: Buyers are therefore advised to conduct their own due dilligence prior to submission of an offer to buy
  5. The property list is effective for three (3) months from date of release and may reflect properties already sold. Please confirm availability of property from PPI at Tel No. 404-2275/524-2470 and look for any of the following – Rolan, Leslie, Lorna or Gerry
  6. Submission of offer to buy is on a first come, best offer basis. PPI reserves the right to conduct private bidding in the event of multiple offers received on the same property subject to the bidding policy of PPI
  7. Mere submission of an offer does not construe a right of “first option” by the offeror
  8. The creditable withholding tax up to the agreed purchase price shall be for the acocunt of PPI. Any fractional cost or excess shall be for the buyer’s account
  9. Prices are not applicable to buyback of the former owners or relatives up to 1st degree of consanguinity. Please confirm with PPI any buyback price
  10. All sales transactions are subject to the final approval of the Management of PPI
  11. Brokers or agents are not allowed to accept any payment from prospective buyers
  12. Taxes and required fees due from buyer must be settled on time during documentation to avoid penalties

Important Notes:

Sale is on “as-is, where-is” basis, no waranties and “no recourse” basis. Status and condition of the properties are not comprehensive or complete: Buyers are therefore advised to conduct their own due diligence prior to submission of an offer to buy.

Buyers shall cause the relocation survey of the properties to determine its exact location/boundaries.

Buyers shall assume the ejectment of the squatters/occupants/lessees/former owners, if any, on the subject property and its attendant cost.

Buyers shall shoulder the acquisition of right-of-way for the subject property, if property is landlocked (no right-of-way).

Who to contact

For details, please feel free to DIRECTLY call the following Officers/Staff of Philmay Property Inc. through the following telephone numbers…

  • 524-2470
  • 404-2275
  • 523-7777 local 150 and 149

and look for…

  • Mr. Gerry T. Canlas – Sales and Marketing Specialist (for Luzon and Metro Manila areas)
  • Ms. Lorna N. Culili – Sales and Marketing Specialist (for Mindanao, Bicol and Rizal areas)
  • Mr. Leslie V. Sevilla – Sales and Marketing Officer (for Visayas and Bulacan areas)
  • Mr. Rolan D. David – Sales and Marketing Head

or just leave a comment below.

Happy hunting!


To our success and financial freedom!

Jay Castillo

Real Estate Investor
PRC Real Estate Broker License No. 3194 
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Text by Jay Castillo and Cherry Castillo. Copyright © 2008 – 2012 All rights reserved.

Full disclosure: I am an accredited real estate broker of Philmay but you always have a choice to call Philmay directly. I would appreciate it if you will acknowledge me as your referrer if you found this listing from, thank you!


Avoid losing money, wasted time and effort caused by buying foreclosed properties that have too many problems, with our free 60-item Property Due Diligence Checklist. Grab your free copy now.

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